June 18, 2020
As per the report titled ‘Global Blow Molding Machinery Market Size study, by Type (Streamline Plastic, Injection Molding, Blow Molding, Thermoforming, and Others), by Application (Food Packaging, Construction, and Others) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global blow molding machinery market was appraised at USD 4,839.54 million in 2019 and is projected to record a y-o-y growth rate of over 3.71% during 2020-2026.
Growth of the plastic industry, surging demand for containers and processing equipment components for food & beverages packaging, along with growing adoption of rigid plastics in packaging materials are the major growth drivers of global blow molding machinery market.
Blow molding machines are employed in manufacturing processes wherein hollow plastic components are combined to form bottles and other commodities. The process involves plastic melting, followed by blowing compressed air through a tube-like object with a hole at one end and then pressing molten plastic to match the mold using the air pressure.
Reduced labor costs, high operational efficiency in bulk production, and higher versatility in comparison to other forming methods are fueling the incorporation of blow molding machinery. However, environmental concerns associated with blow molding machinery as well as plastic disposal may hinder the industry growth over the forecast period.
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Based on type terrain, the market is categorized into streamline plastic, blow molding, injection molding, thermoforming, and others. Speaking of the application spectrum, blow molding machinery market is classified into food packaging, construction, and others.
From a regional standpoint, Asia Pacific blow molding machinery market is anticipated to see substantial growth over the forecast period. The growth can be credited to westernization. Increasing disposable incomes and changing consumer food habits have led to increased consumption of bottled beverages, particularly in developing nations like India and China, in turn boosting the demand for blow molding machinery among manufacturers in APAC.
Key players operating in global blow molding machinery market are British Plastics Federation, Jiangsu Victor Machinery Ltd., Jomar Corporation, Parker Plastic Machinery, Nissei ASB Machine, Milacron, JSW Group, and Bekum.